Driving the Day: 4/9/12

Apr 9, 2012

Need to know…

  • Fed Chairman Bernanke to Deal With March Jobs Numbers. Following Friday’s weak jobs number, Federal Reserve Chairman Ben Bernanke will now face increasing pressure to start another campaign of asset purchases (QE3) to keep interest rates at rock bottom levels and prevent 2012 from becoming another 2011: a good start followed by a weak finish and another flirtation with double-dip recession. Bernanke is set to discuss financial stability today.
  • Inflation Rises in China. China’s inflation accelerated more than forecast in March amid rising wages and a fuel-price increase, signaling that policy makers may exercise caution in adding stimulus to boost growth. Consumer prices rose 3.6% from a year earlier after gaining 3.2% in February. Today’s data show Premier Wen Jiabao’s officials may need to remain alert to the risk of inflation bouncing back even after price increases stayed below the government’s 4% target for a second month.

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